Peregrine's Revenue Reduction
To Total About $250 Million

By

Eduardo Porter Staff Reporter of The Wall Street Journal

Updated Aug. 30, 2002 12:01 a.m. ET

Software manufacturer Peregrine Systems Inc., which has been reviewing potential accounting irregularities in its financial statements, said it will reduce its previously reported revenue by about $250 million over the last three years, more than twice the amount it had previously anticipated.

The San Diego company said that, in addition, it will record a charge of about $100 million related to stock-option compensation. It added that it restructured about $103 million in accounts-receivable financing arrangements with...